Sound View Wealth Advisors Group LLC Purchases New Holdings in Marathon Petroleum Corporation $MPC

Sound View Wealth Advisors Group LLC acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, Holdings Channel reports. The firm acquired 1,293 shares of the oil and gas company’s stock, valued at approximately $215,000.

Other institutional investors also recently made changes to their positions in the company. Jump Financial LLC grew its position in Marathon Petroleum by 128.0% in the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock worth $1,262,000 after purchasing an additional 4,863 shares during the last quarter. Weatherly Asset Management L. P. bought a new stake in shares of Marathon Petroleum during the first quarter valued at approximately $216,000. Journey Strategic Wealth LLC boosted its position in shares of Marathon Petroleum by 105.0% during the first quarter. Journey Strategic Wealth LLC now owns 8,582 shares of the oil and gas company’s stock worth $1,250,000 after buying an additional 4,396 shares during the period. FSM Wealth Advisors LLC bought a new position in Marathon Petroleum in the 2nd quarter worth approximately $685,000. Finally, Brown Advisory Inc. increased its position in Marathon Petroleum by 2.3% in the 1st quarter. Brown Advisory Inc. now owns 6,102 shares of the oil and gas company’s stock valued at $889,000 after acquiring an additional 137 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

Shares of MPC opened at $196.48 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The firm’s 50 day moving average is $188.19 and its 200-day moving average is $172.84. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61. The stock has a market capitalization of $59.06 billion, a P/E ratio of 20.95, a P/E/G ratio of 3.80 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, beating the consensus estimate of $3.00 by $0.01. The business had revenue of $34.81 billion during the quarter, compared to analyst estimates of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. Equities research analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio is 38.81%.

Insider Activity

In other news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider directly owned 28,700 shares of the company’s stock, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MPC has been the subject of a number of analyst reports. Bank of America boosted their price target on Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. BMO Capital Markets upped their price objective on shares of Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Mizuho increased their target price on shares of Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Finally, TD Cowen dropped their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $200.00.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.